Despite a series of recent, high-profile data breaches and consumer concerns over data collection, shoppers are still open to sharing their personal information, reveals a new survey released today.
Just how much they’re willing to share, and to whom, varies greatly by industry and nationality. According to the Aimia Loyalty Lens report, when asked to rank types of businesses by the degree to which they are comfortable with those businesses handling an individual’s personal data, an overwhelming majority of consumers (82 percent) put banks in the top four (out of ten), along with supermarkets (64 percent), mobile phone providers (56 percent) and their places of work (50 percent). Conversely, 65 percent of consumers place online search engines in the bottom two of institutions they trust and 58 percent of consumers place social networks in the bottom two.
Despite the perception that some industries are doing a better job at protecting data than others, more than half of shoppers internationally (55 per cent) are willing to share personal information with companies in exchange for relevant rewards. That willingness is uneven across international markets. Close to three-quarters (74 percent) of respondents from India are open to providing their personal details, compared to only one-third of more skeptical Germans (39 percent). This may be because German consumers value their personal information the most amongst the 10 markets surveyed (36 percent versus 29 percent internationally).
However, there is a fine line between providing a customized experience and coming across as just plain creepy.
With the data that retailers now have, they can greet each customer by name. But knowing the particularities of the local market matter. In France, 47 percent say they’re not comfortable when supermarket cashiers address them by name, while in the Middle East 46 percent see it as perfectly fine. Meanwhile, 66 percent of Canadians are put off by supermarkets that send coupons to their mobile phones, while 52 percent of residents in India are quite comfortable with it. The same applies when supermarkets follow up by phone or email after making a purchase. More than half (57 percent) of Americans see the follow-up gesture as going too far, compared to only one in three (34 percent) of those in the Middle East.
The number one driver behind loyalty to supermarkets is being rewarded for that loyalty (22 per cent) with price coming in second at 17 percent. In contrast, the top driver at banks is longevity of service, with rewards coming only in fifth place.
Not all rewards are created equal. For many institutions — including supermarkets (36 percent) and banks (50 percent) — getting cash back is king. But for airlines, 69 percent prefer either loyalty currency or exclusive discounts and for hotels it’s 57 percent.
New forms of information are now becoming as sacred as or more sacred than personal data that have traditionally been kept private. When it comes to the information consumers protect the most, web history and income top the list with 39 percent and 30 percent respectively stating they would never share such information. That’s compared with 29 percent who would never share their mobile phone number and 23 percent who would never reveal their online purchases.